Millars India announces Post Open Offer Status of shareholding

LKP Shares and Securities Ltd ("Manager to the Offer") for and on behalf of Skyline Vision Pvt Ltd, Dave Builders Pvt Ltd and Jatin Daisaria Realtors Pvt Ltd ("Acquirers") along with Mr. Khyalilal M Tater, Mr. Jitendra M Tater, Mr. Harshad P Dave, Mr. Jaysinh A Dave, Mr. Maulik H Dave, Mr. Jatin V Daisaria and Mrs. Urmi Manoj Daisaria (Person Acting in Concert or PAC's) has issued this Post Offer Public Announcement to the shareholders of Millars India Ltd ("Target Company"), which is in continuation of and should be read in conjunction with the original Public Announcement (PA) dated December 06, 2006 and Corrigendum to the Public Announcement on March 13, 2007 in compliance with and pursuant to Regulations 10 & 12 of the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and amendments thereto (the "Regulations"), to acquire upto 804,485 fully paid up equity shares of Rs 10 each representing 20% of the Fully Expanded Equity Share Capital of the Target Company for cash at a price of Rs 80 per share. The terms used but not defined in this Announcement shall have the same meanings assigned to them as in the PA, Corrigendum to the PA and the Letter of Offer.

The details of acquisition are as under:

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Item				Proposed in the 		Actuals
				offer document
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1. Offer Price			Rs 80 per share 		Rs 80 per share
2. Shares acquired in the	804,485 (20%)** 		15,272 (0.38%)**
open offer (No & %)
3. Post offer Shareholding of	2,556,571 (63.56%#) 		1,767,358  (43.94%#)
the Acquirers & PAC's (No & %)
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** on fully expanded equity capital & voting capital.
# assuming full conversion of convertible warrants.

Source : Equity Bulls

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